The Ghana Gold Board (GoldBod) has announced that it generated $1.871 billion in foreign exchange in September 2026, exceeding its monthly target of $1.4 billion. This achievement is attributed to the Board's artisanal and small-scale gold trading operations under its statutory mandate. The significant milestone demonstrates GoldBod's commitment to supporting Ghana's foreign exchange and reserve management efforts.
According to a statement released by GoldBod on September 30, 2026, the Board sold $701.3 million of the generated foreign exchange to authorised commercial banks during the month. This sales figure not only met but exceeded the Board's target of $700 million, indicating a successful strategy to support stability in the foreign exchange market.
In addition to the sales to commercial banks, GoldBod provided $1.17 billion to the Bank of Ghana to support the accumulation of the country's foreign exchange reserves. This amount significantly surpassed the Board's monthly target of $700 million, highlighting GoldBod's substantial contribution to Ghana's economic stability.
Looking ahead, GoldBod expects to generate $1.5 billion in foreign exchange from its gold trading operations in October. The Board plans to make $1 billion available to authorised commercial banks to support foreign exchange market stability and provide $500 million to the Bank of Ghana to support reserve accumulation under the Ghana Accelerated National Reserves Accumulation Programme (GANRAP).
To ensure transparency and fairness in its foreign exchange sales, GoldBod will conduct its October sales under a newly developed Spot FX Sales/Intermediation Framework. This framework is designed to promote compliance with regulatory requirements in the foreign exchange market, further solidifying GoldBod's commitment to best practices.
GoldBod remains dedicated to its statutory mandate of generating foreign exchange for Ghana and will continue to collaborate with stakeholders to support the country's foreign exchange and reserve management efforts. The Board's proactive approach and strategic sales have positioned it to make a meaningful impact on Ghana's economic landscape.
With its strong performance in September and ambitious projections for October, GoldBod is poised to play a crucial role in Ghana's economic development. The Board's achievements and future plans underscore its importance as a key player in the country's foreign exchange market and its commitment to contributing to Ghana's economic stability and growth.
Key points
- GoldBod generated $1.871 billion in foreign exchange in September 2026, exceeding its target of $1.4 billion.
- The Board sold $701.3 million to authorised commercial banks and provided $1.17 billion to the Bank of Ghana.
- GoldBod aims to generate $1.5 billion in foreign exchange in October, with $1 billion for commercial banks and $500 million for reserve accumulation.
